Current:Home > MyToyota to invest $922 million to build a new paint facility at its Kentucky complex -Visionary Wealth Guides
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
PredictIQ Quantitative Think Tank Center View
Date:2025-04-07 23:02:20
GEORGETOWN, Ky. (AP) — Toyota said Thursday it will build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest global manufacturing plant.
In February, the company said it would invest $1.3 billionat its Kentucky complex, in part so it can build an all-new three-row electric SUV to be sold in the U.S.
Neither project will add any new jobs at the facility, which now employs about 10,000 workers. However, the investments reinforce Toyota’s commitment to long-term job stability, the company said.
The new paint facility, scheduled to open in 2027, will add 1 million square feet of capacity while decreasing carbon emissions by 30% and water usage by 1.5 million gallons per year, Toyota said.
It will enable the company to offer more diverse color options for its vehicles, the company said.
“Toyota’s commitment to advanced paint technologies goes beyond aesthetics,” said Kerry Creech, president of Toyota Kentucky. “It encompasses efficiency, sustainability and quality, leading the industry in environmentally responsible manufacturing.”
The project also will increase flexibility for future vehicle production and advances Toyota’s goal to achieve zero carbon emissions by 2050, the automaker said.
Toyota’s investment in the Bluegrass State has surpassed $11 billion since breaking ground at the central Kentucky site in 1986. Georgetown is 16 miles (26 kilometers) north of Lexington, Kentucky.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (61)
Related
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- When does 'No Good Deed' come out? How to watch Ray Romano, Lisa Kudrow's new dark comedy
- Oregon lawmakers to hold special session on emergency wildfire funding
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- New data highlights 'achievement gap' for students in the US
- 'The Voice' Season 26 finale: Coach Michael Bublé scores victory with Sofronio Vasquez
- She grew up in an Arizona church community. Now, she claims it was actually a religious cult.
- American who says he crossed into Syria on foot is freed after 7 months in detention
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- China's ruling Communist Party expels former chief of sports body
Ranking
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Beyoncé will perform halftime during NFL Christmas Day Game: Here's what to know
- Supreme Court allows investors’ class action to proceed against microchip company Nvidia
- Stock market today: Asian stocks are mixed ahead of key US inflation data
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Woody Allen and Soon
- Oregon lawmakers to hold special session on emergency wildfire funding
- Stock market today: Asian shares advance, tracking rally on Wall Street
Recommendation
What to watch: O Jolie night
Biden commutes roughly 1,500 sentences and pardons 39 people in biggest single
'The Voice' Season 26 finale: Coach Michael Bublé scores victory with Sofronio Vasquez
Beyoncé takes home first award in country music category at 2024 Billboard Music Awards
2025 'Doomsday Clock': This is how close we are to self
Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal
Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal
She grew up in an Arizona church community. Now, she claims it was actually a religious cult.